Launching a Product: What is the Process?

So you have a fantastic product idea, maybe even an amazing product, but how do you transform that into a real-world success? You need to create a product roadmap that strategically outlines how you will take your product to market… with as much excitement as possible.

While there is no one-size-fits-all product launch formula, there are some tried and true rules for launching your new product or business. We believe that an informed entrepreneur is an empowered entrepreneur, so we have gathered everything you need to launch a successful product into one guide. Let’s begin.

Table of Contents

— STEP 1 —

What Is a Product Launch?

— STEP 2 —

Types of Product Launches

— STEP 3 —

How to Launch Successfully

— STEP 4 —

Product Launch Plan

— STEP 5 —

Measure Launch Success

— STEP 6 —

Product Launch Checklist

— STEP 7 | THIS IS ALWAYS THE LAST ONE —

Product Launch Example

What Is a Product Launch?

A product launch is a strategic rollout, introducing a new product to the market. The goal of a successful product launch is to ensure that everyone in your organization, your target audience, and your partners are 1.) aware of your product launch and 2.) excited about your product/invested in its success.

A product launch is much more than the date a new product is introduced to the market. A successful product launch includes a launch plan that’s been designed to appeal to your target audience and several steps to take you from product development to revenue-generating success.

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What Are the 3 Types of Product Launch?

There are 3 primary product launch types:

1. New product creation: A novel product, feature, or capability that directly adds value to the end customer.
2. Existing product maintenance or support: To maintain perceived and actual value to your customers, your products will likely require continued maintenance. As much as every entrepreneur would love a “set it and forget it” revenue stream, product managers often have to continue to adjust and update products to stay competitive in the marketplace. This is especially true in constantly evolving markets like ecommerce and tech.
3. Internal product updates: Internal product releases support the day-to-day operations of your product and are only visible within the organization. These updates are just as essential as the first 2 product launch types because they keep key stakeholders invested and support organizational needs/challenges in product maintenance.

How Do You Launch a Successful Product?

You need to develop a launch plan with a clear strategy. Successful product launches are driven by a roadmap that will take you from pre-launch through launch day. Product roadmaps commonly include social media pushes, email marketing, and a launch event. Everything you plan should be geared toward the product’s target audience.

Your strategy should be based on market conditions, your audience’s needs, and how your product can fix their problem. Before you create your launch strategy, you want to determine when your launch will happen (launch date), allowing time for a soft launch and robust product launch marketing.

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